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Gokhran Struggles to Find New Exec.

May 13, 2013 4:50 AM   By Deena Taylor
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RAPAPORT... Russia's precious metals and gems repository Gokhran is having difficulty finding a replacement for its current executive, Vladimir Rybkin.

Rybkin gave notice of his intention to resign in February 2013, however, his letter still remains unanswered, three sources familiar with the situation told Reuters.

"The government simply can't find a replacement for him - nobody wants to take on such a huge list of responsibilities," one of the sources said. A new head of Gokhran could be found in the early summer, another source added.

Gokhran was founded in 1920 and is controlled by Russia's finance ministry. Its total reserves remain a state secret. In 2009, Gokhran bought $1 billion worth of diamonds from ALROSA when rough diamond prices fell sharply as a result of the global economic crisis. 
Tags: Deena Taylor, Gokhran
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